| | MORRIS PLAINS, N.J., April 9 /PRNewswire-FirstCall/ -- Immunomedics, Inc. (Nasdaq: IMMU - News) today announced that CIS Bio International of France entered into a settlement of issues arising from past sales of Scintimun® CEA in relation to Immunomedics' carcinoembryonic antigen (CEA) patents. These patents cover antibodies that specifically recognize CEA, one of the most widely used markers for colorectal and other cancers. Under the settlement agreement, CIS Bio International agreed to pay an undisclosed sum for the past sales of Scintimun® CEA.
In addition to this settlement, the Immunomedics' CEA patent portfolio has been licensed to Beckman Coulter, Daiichi Pure Chemicals, Medix Biochemica, and Dako.
"We are pleased to have been able to reach a mutually agreeable resolution with CIS Bio International, and remain committed to recovering the costs incurred during our years of CEA research. We will continue to aggressively defend our patent rights and hope that companies marketing products which utilize our proprietary technologies will also take note of this settlement," noted Dr. David M. Goldenberg, Immunomedics' Chairman and an inventor on the CEA patents.
Immunomedics is a biopharmaceutical company focused on the development, manufacture and commercialization of diagnostic imaging and therapeutic products for the detection and treatment of cancer and infectious diseases. Integral to these products are highly specific monoclonal antibodies and antibody fragments designed to deliver radioisotopes and chemotherapeuticagents to tumors and sites of infection. Immunomedics has six therapeutic product candidates in clinical trials and has two marketed diagnostic imaging products. The most advanced therapeutic product candidates are LymphoCide® (epratuzumab), which is in Phase II clinical trials for the treatment of non-Hodgkin's lymphoma, and CEA-Cide® (labetuzumab), which is in Phase I/II clinical trials for the treatment of certain solid tumors. |
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